WTSA PLANS TO RAISE DRY CARGO RATES IN 2003

WTSA PLANS TO RAISE DRY CARGO RATES IN 2003    Carriers of the Westbound Transpacific Stabilization Agreement plan to raise dry cargo rates from the United States to Asia by $200 per 40-foot container, effective Nov. 1 for wastepaper, Dec. 1 for shipments of cotton, and Jan. 1 for all other non-refrigerated commodities.
   Member carriers said freight rates 'have fallen to levels that are non-compensatory in light of high variable operating expenses, as well as investment and infrastructural costs,' WTSA said.
      WTSA lines said they would next address chilled cargo, where they say rates have also sharply fallen and where service and equipment costs are among the highest. Member carriers have individually set a volunteer target to raise chilled cargo rates by $600 per 40-foot container, by April 1, WTSA said.
   Members of WTSA, the voluntary discussion agreement, are APL, COSCO, Evergreen, Hanjin Shipping, Hapag-Lloyd, Hyundai, 'K' Line, Mitsui O.S.K. Lines, N.Y.K. Line, OOCL, P&O Nedlloyd and Yangming.